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[size=36]Central Bank Governor: Positive indicators of an increase in GDP growth rates and non-oil revenues[/size]
Economie| 09:31 - 13/08/2022
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Baghdad - Mawazine News
The Governor of the Central Bank of Iraq, Mustafa Ghaleb, said today, Saturday, that the reserves of central banks are variable and depend on how they are managed, while confirming the existence of positive indicators that confirm the continued increase in the growth rates of domestic product and non-oil government revenues.
He explained, “Central banks’ reserves change from time to time, and this depends on how these reserves are managed, in addition to the ways in which Iraq was financed at the end of 2020, as the Central Bank, in cooperation with financial institutions operating in Iraq and the Ministry of Finance, initiated a number of measures that It has paid off over time, especially after the improvement of oil revenues to the Ministry of Finance at a time when there was a lack of liquidity in the government, especially in the distribution of salaries, and economic indicators indicated that oil prices would improve and there would be positive indicators in the coming period.”
He added, "These indicators were within the economic analyzes and were well positive, and included the rise in oil prices and the government's implementation of the white paper seriously, and then searching for an increase in non-oil government revenues, and this we expect to reap its fruits during the next stage."
He pointed out that "the Central Bank has taken a very big initiative during the last period, as it launched an initiative within a fund that was allocated 18 trillion dinars and was distributed in various industrial, agricultural, commercial and investment sectors. Facilitator of this initiative without benefit."
He expressed his hope that "during the coming period, there will be a continuous growth of economic indicators, especially in the reserves, to give indicators for the region and the world that encourage investment projects in Iraq," stressing that "all indicators so far indicate a continued increase in GDP growth rates for a short period."
He noted that "the residential complexes have provided, during the past few years, through the initiative of the Central Bank, a lot of job opportunities as well as provided housing for many citizens," stressing "continuing to provide the initiative in addition to allocating a fund for this support, and the next phase will be much better." Ended 29 / p. 87
He explained, “Central banks’ reserves change from time to time, and this depends on how these reserves are managed, in addition to the ways in which Iraq was financed at the end of 2020, as the Central Bank, in cooperation with financial institutions operating in Iraq and the Ministry of Finance, initiated a number of measures that It has paid off over time, especially after the improvement of oil revenues to the Ministry of Finance at a time when there was a lack of liquidity in the government, especially in the distribution of salaries, and economic indicators indicated that oil prices would improve and there would be positive indicators in the coming period.”
He added, "These indicators were within the economic analyzes and were well positive, and included the rise in oil prices and the government's implementation of the white paper seriously, and then searching for an increase in non-oil government revenues, and this we expect to reap its fruits during the next stage."
He pointed out that "the Central Bank has taken a very big initiative during the last period, as it launched an initiative within a fund that was allocated 18 trillion dinars and was distributed in various industrial, agricultural, commercial and investment sectors. Facilitator of this initiative without benefit."
He expressed his hope that "during the coming period, there will be a continuous growth of economic indicators, especially in the reserves, to give indicators for the region and the world that encourage investment projects in Iraq," stressing that "all indicators so far indicate a continued increase in GDP growth rates for a short period."
He noted that "the residential complexes have provided, during the past few years, through the initiative of the Central Bank, a lot of job opportunities as well as provided housing for many citizens," stressing "continuing to provide the initiative in addition to allocating a fund for this support, and the next phase will be much better." Ended 29 / p. 87
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